Gaurav Seth appointed as CEO of 5paisa Capital Limited, effective January 14, 2025
ICICI Lombard Q2 Results FY2024, Net profit at Rs.5.77 billion

On 18th October 2023, ICICI Lombard General Insurance announced its quarterly results.
Key Highlights:
- The company's Gross Direct Premium Income (GDPI) increased by 18.2% to Rs.124.72 billion in the H1FY2024 from Rs.105.55 billion, outpacing the industry's 14.9% rise. GDPI for the Company increased by 17.4% from Q2 FY2023, when it was at Rs.51.85 billion to Q2 FY2024, reaching Rs.60.86 billion. This growth exceeded the 12.5% industry growth rate.
- PBT increased by 25.3% to Rs.7.64 billion in Q2 FY2024 from Rs.6.10 billion in Q2 FY2023, while PBT increased by 19.4% to Rs.12.84 billion in H1FY2024 from Rs.10.75 billion in H1FY2023.
- Compared to H1 FY2023, profit after tax (PAT) increased by 3.0% to Rs.9.68 billion from Rs.9.40 billion. PAT decreased by 2.2% to Rs.5.77 billion from Rs.5.91 billion in the Q2FY2023.
Business Highlights:
- For Q2FY2024, the retail health agency vertical increased by 21.7%.
- In Q2FY2024, Bancassurance and Key Relationship Groups expanded by 24.3%.
- At September 30, 2023, the advance premium was Rs.32.89 billion.
- Return on Average Equity (ROAE) decreased from 19.9% in H1 FY2023 to 18.0% in H1 FY2024. It also decreased from 24.5% in Q2 FY2023 to 21.1% in Q2 FY2024.
- The company also declared an interim dividend of Rs 5 per equity share.
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